Including Tungsten, Group 6 Metals and University of Tasmania Form Collaboration Into Critical Minerals

Group 6 Metals and the University of Tasmania will collaborate on research and development activities related to the production of critical minerals, including tungsten (W). The project is expected to benefit its W assets on King Island in the state.

The collaboration between Group 6 Metals and the university's Center for Deposit and Earth Sciences (CODES) will focus on researching and developing environmentally sustainable options for the production of key minerals, including tungsten. CODES received a $3.5 million grant from the federal government earlier this month to begin implementing the project in partnership with regional industry agencies.

Under the terms of the partnership, Group 6 Metals will provide the university with access to its Tasmanian assets, including the Dolphin mine, which is under construction; and the historic Bold Head mine and its exploration area. University staff will work with the company’s staff on research projects and the company will provide in-kind support, logistics, information, and access to core drilling, mining, and processing activities.

Keith McKnight, CEO of Group 6 Metals, said, "This partnership will support the company's ESG (environmental, social, and governance) objectives at Kings Island. Operating the Dolphin mine in an environmentally sustainable manner is a key part of our strategy, as we will produce our first tungsten concentrate next year. This project has the potential to support our efforts in this area and also has the potential to have a broader impact on Tasmania's important minerals sector."

Mr. McKnight said, "This collaboration will be mutually beneficial and we see several potential benefits, including improvements to our exploration technology, which could lead to an increase in the resource base of our entire asset. This project will also aim to improve our tungsten recovery in the coming years as we become a globally significant producer at Kings Island."

The collaboration with the University of Tasmania is considered to "align well" with the company's vision to maximize the extraction of W from its ore bodies and its intention to "lead the way" in environmentally sensitive downstream processing.

Tungsten is considered by governments around the world to be one of several key minerals necessary for future sustainable economic growth and development, and the Dolphin Mine is currently the largest W deposit in the Western world. The Dolphin mine is a large open pit and underground mine located in the Bass Strait on King Island, Tasmania, Australia. Dolphin having estimated reserves of 2.7 million tonnes of ore grading 1.04% W.